Nevada Life and Health| 105 Questions| Correct 100%| Verified

Which of the following information will be stated in the consideration clause of a life insurance policy? - ANSWER The amount of premium payment Which of the following is TRUE of a qualified plan? - ANSWER It has a tax benefit for both employer and employee An insured is covered by a partially contributory group disability income plan that pays benefits of $4,000 a month. How much of the monthly benefit would be taxable? - ANSWER $3,000. on a partially contributory group disability income insurance, only that portion of the benefits that are related to the employee. In this case, because the employer pays 75% of the premium the employee will be taxed on 75% Which of the following is NOT a term for the period of time during which an annuitant or beneficiary receives the money? - ANSWER Depreciation period Larry has a major medical policy with a $500 deductible and 80/20 coinsurance. Larry is hospitalized and sustains $2,500 in medical bills. How much is Larry responsible to pay? - ANSWER $900 (Deductible + 20% of the bill after the deductible {20% of $2,000}) Which provision states that the insurance company must pay Medical Expense claims immediately? - ANSWER Time of Payment of Claims In reference to the standard Medicare Supplement benefits plans, what does the term standard mean? - ANSWER All providers will have the same coverage options and conditions for each plan. Which of the following is TRUE regarding impatient hospital care for HMO members? - ANSWER Care can be provided outside of the service area. What is the maximum period of time during which